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Many thanks for your services.
My confusion has to do with the recoverable amount of Non-Current Assets Held For Sale.
You said it’s the LOWER of the Value in Use and the FV less Cost to sell. However, in a debrief I listened to, it was quoted as the HIGHER of the two ( value in use and FV less cost to sell).
Could you help me to better understand it.
Thanks.
Hi,
Glad you’re finding what we do to be supportive.
When looking at NCA-HFS then it is recorded at the lower of the carrying value and FVLCTS.
I think you are getting wires crossed with an impairment when an asset is impaired if the CV is greater than the recoverable amount, with the recoverable amount being the higher of the value in use and the FVLCTS.
Thanks
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